Teachers Retirement System of The State of Kentucky Boosts Stock Position in DNOW Inc. $DNOW

Teachers Retirement System of The State of Kentucky boosted its stake in shares of DNOW Inc. (NYSE:DNOW) by 408.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,509 shares of the oil and gas company’s stock after buying an additional 133,742 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in DNOW were worth $1,983,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DNOW. Covestor Ltd grew its stake in shares of DNOW by 15.7% in the fourth quarter. Covestor Ltd now owns 4,614 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 626 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of DNOW by 1.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 45,540 shares of the oil and gas company’s stock worth $603,000 after purchasing an additional 860 shares during the last quarter. Summit Global Investments raised its position in shares of DNOW by 5.4% in the 4th quarter. Summit Global Investments now owns 16,991 shares of the oil and gas company’s stock worth $225,000 after purchasing an additional 865 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in DNOW by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,191 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 892 shares in the last quarter. Finally, Investors Research Corp boosted its stake in DNOW by 61.1% in the 4th quarter. Investors Research Corp now owns 3,001 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,138 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. DA Davidson initiated coverage on shares of DNOW in a research note on Tuesday, June 16th. They set a “buy” rating and a $17.00 price objective for the company. Freedom Capital upgraded shares of DNOW to a “strong-buy” rating in a research note on Monday, June 22nd. Wall Street Zen cut shares of DNOW from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of DNOW in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of DNOW from a “strong sell” rating to a “hold” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

DNOW Trading Up 3.8%

DNOW stock opened at $13.62 on Thursday. DNOW Inc. has a one year low of $10.94 and a one year high of $17.26. The business’s fifty day moving average is $13.22 and its 200 day moving average is $13.26. The stock has a market capitalization of $2.49 billion, a PE ratio of -18.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.14.

DNOW (NYSE:DNOW) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.08 billion. DNOW had a positive return on equity of 4.94% and a negative net margin of 4.14%.DNOW’s quarterly revenue was up 97.5% compared to the same quarter last year. During the same period last year, the firm posted $0.22 EPS. On average, sell-side analysts predict that DNOW Inc. will post 0.31 EPS for the current year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.